Reported 2 days ago
Donald Trump's social media company, Trump Media and Technology Group, is reportedly in advanced talks to acquire the cryptocurrency trading platform Bakkt in an all-stock deal, leading to significant volatility in Bakkt's shares which surged over 160%. Despite recent financial struggles, Trump's company maintains a strong market cap and a large cash reserve, prompting hopes that the acquisition could enhance their revenue generation capabilities. Experts have noted that Trump's name may draw crypto supporters, raising expectations for this potential deal.
Source: YAHOO